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Oppenheimer Bank is offering a 3 0 - year mortgage with an APR of 4 . 8 3 % based on monthly compounding. With this

Oppenheimer Bank is offering a 30-year mortgage with an APR of 4.83% based on monthly compounding. With
this mortgage, your monthly payments would be $1,956 per month. In addition, Oppenheimer Bank offers you the
following deal: Instead of making the monthly payment of $1,956 every month, you can make half the payment every
two weeks (so that you will make 522=26 payments per year). With this plan, how long will it take to pay off the
mortgage if the EAR of the loan is unchanged? Note: Make sure to round all intermediate calculations to at least 8
decimal places.
The number of payments will be
(Round to two decimal places.)
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